Moody's assigns Aaa/VMIG1 to Hospital Sisters reoffering

Moody's Investors Service said it confirmed its Aaa rating and assigned a VMIG1 short-term rating to $284.025 in revenue bonds issued for Hospital Sisters Services, Ill., which plans to convert the interest rate on the bonds from an auction-rate mode to a weekly rate mode and reoffer them.

The rating applies to the $65.55 million series 2003A and $100.425 million series 2007C issued by the Illinois Finance Authority as well as the $76.75 million series 2007B-1 and $41.3 million series 2007B-2 issued by the Wisconsin Health and Educational Facilities Authority.

All the bonds are to be converted and reoffered June 17.

The short-term rating is based on standby bond purchase agreements provided by Harris Bank (for series 2007B-1) and by JPMorgan Chase Bank, NA for the remaining bonds.

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